Author Topic: U.S. Government Shutdown  (Read 18215 times)

Offline skyguy918

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Re: U.S. Government Shutdown
« Reply #60 on: October 02, 2013, 03:26:43 PM »
Isn't it? Don't you need SS credits in order to get onto SS?
Yup. The issue people have with SS is that you're not funding your own retirement, you're funding the prior generation's, and your's will be funded by future generations. The similarity to Medicaid and Medicare is that your contribution does not by definition equal the benefit you receive (if you receive anything at all).

Offline Ergel

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Re: U.S. Government Shutdown
« Reply #61 on: October 02, 2013, 03:43:24 PM »
Yup. The issue people have with SS is that you're not funding your own retirement, you're funding the prior generation's, and your's will be funded by future generations.
Correct, the greatest ponzi scheme ever created
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Offline skyguy918

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Re: U.S. Government Shutdown
« Reply #62 on: October 02, 2013, 03:58:24 PM »
Correct, the greatest ponzi scheme ever created
Or a pyramid scheme. Not exactly either one, but still a disturbing system.

Offline Ergel

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Re: U.S. Government Shutdown
« Reply #63 on: October 02, 2013, 04:18:07 PM »
Or a pyramid scheme. Not exactly either one, but still a disturbing system.
It's true of all pension systems
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Offline lfas25

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Re: U.S. Government Shutdown
« Reply #64 on: October 02, 2013, 04:18:50 PM »
If you are using a shotgun it means they are to close.  ;)

True, but most people (here probably) don't know that...
I also have my AR on standby.
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Offline skyguy918

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Re: U.S. Government Shutdown
« Reply #65 on: October 02, 2013, 04:23:47 PM »
It's true of all pension systems
Not in the least bit. Why would you think that?

Offline Ergel

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Re: U.S. Government Shutdown
« Reply #66 on: October 02, 2013, 04:27:03 PM »
Not in the least bit. Why would you think that?
In retirement plans you deposit money into an account which is saved (and invested) for when you retire.
I thought all pension plans work that you are paying out to current retirees
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Offline skyguy918

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Re: U.S. Government Shutdown
« Reply #67 on: October 02, 2013, 04:37:01 PM »
In retirement plans you deposit money into an account which is saved (and invested) for when you retire.
I thought all pension plans work that you are paying out to current retirees
When a pension is set up, reserves are held in safe investments to pay future liabilities. If those reserves prove to be insufficient, the company that set up the pension is still on the hook for any shortfall. The risk to the company is minimized in the same way as other life and annuity products - by pooling it among the participants - which is why those are all considered actuarial fields.

The difference with social security is that the 'reserves' for the pension are incoming tax revenues and to a lesser extent interest from treasuries being held for social security.

Offline benellis7

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Re: U.S. Government Shutdown
« Reply #68 on: October 02, 2013, 05:38:38 PM »
SS isn't like a regular pension system: http://www.nextinning.com/socialsecurity2.php

Offline skyguy918

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Re: U.S. Government Shutdown
« Reply #69 on: October 02, 2013, 08:50:46 PM »

Offline elikay

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Re: U.S. Government Shutdown
« Reply #70 on: October 02, 2013, 09:09:13 PM »

Offline Ergel

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Re: U.S. Government Shutdown
« Reply #71 on: October 02, 2013, 09:11:52 PM »
Talk about putting your foot in your mouth http://www.foxnews.com/politics/2013/10/02/why-would-want-to-do-that/
What do you mean- it was "taken out of context."
I love it when people use that line-when it was said in a very clear context (and don't try and explain what the correct context to understand it is)
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Offline elikay

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Re: U.S. Government Shutdown
« Reply #72 on: October 02, 2013, 09:16:49 PM »

What do you mean- it was "taken out of context."
I love it when people use that line-when it was said in a very clear context (and don't try and explain what the correct context to understand it is)
Quote


But Reid was challenged at a Democratic press conference by CNN's Dana Bash about why the Senate wouldn't consider the NIH bill. "If you can help one child who has cancer, why wouldn't you do it?" she asked.


Sen. Chuck Schumer, D-N.Y., quietly asked, "Why pit one against the other?"


And Reid immediately chimed in: "Why would we want to do that? I have 1,100 people at Nellis Air Force base that are sitting home. They have a few problems of their own."

Offline YankyDoodle

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Re: U.S. Government Shutdown
« Reply #73 on: October 02, 2013, 10:46:02 PM »
The schools in Montreal are affected as well?
:)

Just corrected it in my profile, I now live in Cleveland.

Offline Dave321

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Re: U.S. Government Shutdown
« Reply #74 on: October 03, 2013, 10:20:41 AM »
What do you mean- it was "taken out of context."
I love it when people use that line-when it was said in a very clear context (and don't try and explain what the correct context to understand it is)

+1000

This morn all the democrats are trying to say it was 'taken out of context'. You can watch the full video and see there was no mistake in what he said.

I think harry reid is going senile. Schumer cant wait to become majority leader.

Offline good sam

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Re: U.S. Government Shutdown
« Reply #75 on: October 03, 2013, 03:58:01 PM »
If you don't care why would you comment?
HT: DMYD

Offline Ergel

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Re: U.S. Government Shutdown
« Reply #76 on: October 03, 2013, 04:07:40 PM »
Those numbers can't be true
Life isn't about checking the boxes. Nobody cares.

Offline good sam

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Re: U.S. Government Shutdown
« Reply #77 on: October 03, 2013, 04:38:31 PM »
right wing propaganda?
If you don't care why would you comment?
HT: DMYD

Offline AsherO

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Re: U.S. Government Shutdown
« Reply #78 on: October 03, 2013, 04:46:09 PM »
SS isn't like a regular pension system: http://www.nextinning.com/socialsecurity2.php

The points made in that article are scary...
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Offline twentie4hrs

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Re: U.S. Government Shutdown
« Reply #79 on: October 03, 2013, 04:56:34 PM »
I just keep watching the 'Shutdown' episode of The West Wing...
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